Weighing GELT Financial Solutions in a Balance Essay
GELT has been in a fiscal crisis although the board of managers has non realized it so. To recap the different alternate solutions in the old treatment. it would be advantageous to first name the solutions. The first solution which we will call as ‘new budget proposal’ entails that Dobbs. the president-elect of GELT. build a new budget proposal that would fulfill the board of managers but will somehow compromise the fiscal stableness of the organisation. In the 2nd solution. which is designated as ‘former budget proposal’ . the old budget proposal which was presented to the board but was non approved will be strengthened and once more be presented but this clip after converting each member of the board and exhaustively explicating the inside informations of the proposal.
The really issue in the GELT instance really concerns the organization’s budget. A budget is the prognosis of outgos and disbursals for a specific period of clip. therefore. it is a manifestation of an organization’s set of precedences and ends ( Fisher ) . It is hence of import that adequate attending is given when suggesting a budget. The two solutions in the GELT instance really differ simply in the construction of the budget proposal and yet. this difference determines the results that the organisation may digest in the hereafter.
Therefore. it is of import that each solution be weighed and analyzed. Standards on how to weigh the two options is given in Table 1. Ease of execution refers to the simpleness of the solution ; artistic freedom refers to the limitless options for the artistic field ; cost is the initial investing needed to implement the solution and effectivity is the step of success of the solution.
In easiness of execution. the former budget proposal is better than the new budget proposal. The former budget proposal would merely imply an attempt from Dobbs wherein she has to separately convert the members of the board. Although such attempt is slippery. it will merely affect the president and the lone important portion is the convincing measure. Unlike in the new budget proposal. the budget commission will once more convene to explicate a new budget that would most probably be similar to proposals of old old ages. After which. the theatre organisation will happen ways on how to cut down outgos and increase grosss throughout the twelvemonth. The standard for artistic freedom. on the other manus. will prefer the new budget proposal.
This is due to the fact that the budget will be tremendous and therefore. will excite the creativeness of the theatre productions. However. if the former budget proposal is implemented. the artistic freedom of the theatre organisation will be restricted due to the meager budget. This is explicitly stated by Roberta Mackie. chair of the costume commission. Another factor that can find the result of the crisis is that of cost. Cost. here. is that which will necessitate the least initial investing. Analyzing the two solutions. one can state that the former budget proposal will necessitate the least fiscal investing since it will merely affect the convincing ability of the president and her advocators.
On the other manus. the new budget proposal will necessitate greater fiscal investing since every bit have been discussed antecedently ; the theatre organisation will necessitate to happen patrons and helpers for their cause and this will necessitate fiscal input for publicities. research and even transit. Last. effectivity covers the over-all success of the solution. significance. the solution efficaciously satisfies the chief job of the instance in line with the organization’s precedences and ends.
In this portion. the new budget proposal has the advantage since it will non restrict the theater’s creativeness and range. Furthermore. it will give an feeling that the organisation is truly focused on theatre humanistic disciplines and non on fiscal affairs. The said option will besides spread out the organisation since it will affect other organisations interested in the humanistic disciplines.
On the other manus. the former budget proposal is deemed less effectual since it does non vouch that the precedences and ends of the organisation will be met. Although it will specifically work out the fiscal jobs of the organisation. and it is easier to implement. it is non the best action to take. The former budget proposal may even divide the board of managers into two cabals if it will be implemented.
|Ease of execution ( 20 % )||Artistic freedom ( 25 % )||Cost ( 20 % )||Effectiveness ( 35 % )|
|New budget proposal||10||25||10||35|
|Former budget proposal||20||10||20||15|
Fisher. Louis.Budget.Microsoft® Encarta® 2007 [ CD ] . Redmond. WA: Microsoft Corporation. 2006.